Thursday, June 21, 2012

Now we have a change

Eject, eject! There is absolutely no reason to fall in love with your position. When the facts change so should your thinking. 
 "If you never change your mind, why have one?" 
Edward de Bono
What a difference a day makes. Today Philly Fed Mfg Index cratered (third month in a row, which is an undeniable trend) and told us that we are possibly looking at the same scenario as the last year, when it led SPX to a nasty summer sell-off. Will it happen again? I do not know. But my dashboard instruments told me to eject...

click on charts to enlarge

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